The Govt have since taken out of the equation housing costs (mortgage & coucil tax) when calculating inflation, which makes up most of ppl's outgoings (averaging 45%), so the real rate of inflation somewhere near 10%.

and GB is about to announce a package of measures to re ignite the housing market by lending public money to local councils to part buy into homes that are about to be repossessed or buy empty ones and let them.All this will just push this country further into debt we already have the cock up that is NR to pay for and now this.Inflation is def nearer 10% and is rising yet they are considering lowering interest rates and then inflation will rocket.I just despar as heating is so expensive now and food this winter is going to be terrible.

I think we've (the country) have had it good for so long that we are not use to tightening our belts. It's a shock to the system. The government and businesses have been encouraging us to spend, spend , spend for years now because they wanted to improve the economy and it's left the country in a huge mountain of debt. Something had to give, we couldn't keep on going, lending and spending. This should have been foreseen by the government! It's greed that's got us in this mess.

'and GB is about to announce a package of measures to re ignite the housing market by lending public money to local councils to part buy into homes that are about to be repossessed or buy empty ones and let them.'

so in other words, if you can't pay your mortgage, the council/taxpayer will provide you with a place to stay.

meanwhile, the working poor who have been on wait lists for years and years for social housing will continue to move round from pillar to post.

I think the thing that really annoys me about the whole situation is the buck passing and hyperbole tht goes on...

The govt say the right things, but do f all to help the hard working, struggling families..

No disrespect, but I know things were hard for families in other economic downturns, but let's stop this comparison of war wounds and have peopole on board with some concrete ideas and plans to get us out of it...

Someone seriously needs to tell the govt to stop the hand waving and sabre waggling at Russia and get on with the job they are employed to do...

So, the government are going to give the local councils money to buy empty/repossessed houses. Right. So, this money will go to the banks then won't it, which will then go to the shareholders. I can't see how helping out the few will benefit the many? Banks make enough of a profit out of us, isn't it time they gave some back? And the supermarkets, and the energy companies. How can a company that makes 1billion pounds profit in 6 months justify increasing charges again? Yes, the global prices have increased alot but they should take the fall for this and cover the cost. They are making a huge profit out of what is a necessity, we have no choice, we have to have gas to keep warm. They should reduce their prices and stop using their customers as a way of making money. This has gone on for far too long. These comapnies need to start paying back their customers now.

And those who are ultimately responsible for the huge sub prime debacle still collect their huge bonuses and share options .... and foreclose on those unable to pay the extortionate mortgage rates imposed ...